How and When Did You know?

[lindismith]

Kewp, that is so key! Everytime I hear “new paradigm” a red glag goes up, and I realize, I’m about to hear BS.

I was getting a lot of pressure to buy from my parents in 2002-3, so I started researching the market. At that point it was literally shooting up every month! Plus, the inventory was very low. I remember approaching one realtor about a place he had advertised, and when we met up, he said it was sold. “To whom,” I asked, wondering who had beat me to the punch. “Me.” he said. So when I realized I was competing for homes with the very people who were supposed to be helping me buy them, I was definitely in trouble. I came home, googled “San Diego Housing Bubble,” found Rich, and became one of his paying subscribers. That was fall of 2004, and now I count him as my financial adviser. Becoming a Pigg was one of my best moves ever.

[Anonymous]

Two things did it for me. One was the weekly comp sheets the realtors were constantly leaving on my front doorstep in Carmel Valley increasing at the rate of about 10k per month. What really cinched it for me was Alan Greenspan testifying to Congress that people should be taking out ARMs on houses. I listed my house the next week…sold in April, 2005. Whew!

Rustico…LOL

[Anonymous]

Two things did it for me. One was the weekly comp sheets the realtors were constantly leaving on my front doorstep in Carmel Valley increasing at the rate of about 10k per month. What really cinched it for me was Alan Greenspan testifying to Congress that people should be taking out ARMs on houses. I listed my house the next week…sold in April, 2005. Whew!

Rustico…LOL

[Anonymous]

Two things did it for me. One was the weekly comp sheets the realtors were constantly leaving on my front doorstep in Carmel Valley increasing at the rate of about 10k per month. What really cinched it for me was Alan Greenspan testifying to Congress that people should be taking out ARMs on houses. I listed my house the next week…sold in April, 2005. Whew!

Rustico…LOL

[Anonymous]

Two things did it for me. One was the weekly comp sheets the realtors were constantly leaving on my front doorstep in Carmel Valley increasing at the rate of about 10k per month. What really cinched it for me was Alan Greenspan testifying to Congress that people should be taking out ARMs on houses. I listed my house the next week…sold in April, 2005. Whew!

Rustico…LOL

[Anonymous]

Two things did it for me. One was the weekly comp sheets the realtors were constantly leaving on my front doorstep in Carmel Valley increasing at the rate of about 10k per month. What really cinched it for me was Alan Greenspan testifying to Congress that people should be taking out ARMs on houses. I listed my house the next week…sold in April, 2005. Whew!

Rustico…LOL

[DoJC]

When the wife and I moved from Ecuador back to California in April of 2005 we knew we couldn’t afford a home. We were shocked at how expensive homes had become here. Neither of us could figure out how anyone could afford to buy a home in Orange County when the prices were stratospheric! So we moved to Sacramento to stay with her sister while we looked for jobs and a house. When finding a job that would support a home in Sacramento became harder and harder we moved to San Antonio, TX. There we found a 3600+sq ft home for $327k. Then my father-in-law got sick, and we had to move back to CA in Nov of 2006. Home prices were even higher by then, and we resigned ourselves to renting for the rest of our lives. We finally found a home in Meniffee for $478k that we fell in love with. The commute prevented us from buying it. In hindsight that was the best decision we ever made! Now we’re in a position to be able to afford a home here in OC if we chose to, or buy a bigger home with some land in Oceanside.

So, the long and the short is that around April, 2005 we knew things couldn’t keep up the rate of appreciation due to the income to price ratio. Until I found this site I wasn’t sure how bad things truly were, and am now sitting and saving for another 8-15 months before buying a home.

– Doug

[DoJC]

When the wife and I moved from Ecuador back to California in April of 2005 we knew we couldn’t afford a home. We were shocked at how expensive homes had become here. Neither of us could figure out how anyone could afford to buy a home in Orange County when the prices were stratospheric! So we moved to Sacramento to stay with her sister while we looked for jobs and a house. When finding a job that would support a home in Sacramento became harder and harder we moved to San Antonio, TX. There we found a 3600+sq ft home for $327k. Then my father-in-law got sick, and we had to move back to CA in Nov of 2006. Home prices were even higher by then, and we resigned ourselves to renting for the rest of our lives. We finally found a home in Meniffee for $478k that we fell in love with. The commute prevented us from buying it. In hindsight that was the best decision we ever made! Now we’re in a position to be able to afford a home here in OC if we chose to, or buy a bigger home with some land in Oceanside.

So, the long and the short is that around April, 2005 we knew things couldn’t keep up the rate of appreciation due to the income to price ratio. Until I found this site I wasn’t sure how bad things truly were, and am now sitting and saving for another 8-15 months before buying a home.

– Doug

[DoJC]

When the wife and I moved from Ecuador back to California in April of 2005 we knew we couldn’t afford a home. We were shocked at how expensive homes had become here. Neither of us could figure out how anyone could afford to buy a home in Orange County when the prices were stratospheric! So we moved to Sacramento to stay with her sister while we looked for jobs and a house. When finding a job that would support a home in Sacramento became harder and harder we moved to San Antonio, TX. There we found a 3600+sq ft home for $327k. Then my father-in-law got sick, and we had to move back to CA in Nov of 2006. Home prices were even higher by then, and we resigned ourselves to renting for the rest of our lives. We finally found a home in Meniffee for $478k that we fell in love with. The commute prevented us from buying it. In hindsight that was the best decision we ever made! Now we’re in a position to be able to afford a home here in OC if we chose to, or buy a bigger home with some land in Oceanside.

So, the long and the short is that around April, 2005 we knew things couldn’t keep up the rate of appreciation due to the income to price ratio. Until I found this site I wasn’t sure how bad things truly were, and am now sitting and saving for another 8-15 months before buying a home.

– Doug

[DoJC]

When the wife and I moved from Ecuador back to California in April of 2005 we knew we couldn’t afford a home. We were shocked at how expensive homes had become here. Neither of us could figure out how anyone could afford to buy a home in Orange County when the prices were stratospheric! So we moved to Sacramento to stay with her sister while we looked for jobs and a house. When finding a job that would support a home in Sacramento became harder and harder we moved to San Antonio, TX. There we found a 3600+sq ft home for $327k. Then my father-in-law got sick, and we had to move back to CA in Nov of 2006. Home prices were even higher by then, and we resigned ourselves to renting for the rest of our lives. We finally found a home in Meniffee for $478k that we fell in love with. The commute prevented us from buying it. In hindsight that was the best decision we ever made! Now we’re in a position to be able to afford a home here in OC if we chose to, or buy a bigger home with some land in Oceanside.

So, the long and the short is that around April, 2005 we knew things couldn’t keep up the rate of appreciation due to the income to price ratio. Until I found this site I wasn’t sure how bad things truly were, and am now sitting and saving for another 8-15 months before buying a home.

– Doug

[DoJC]

When the wife and I moved from Ecuador back to California in April of 2005 we knew we couldn’t afford a home. We were shocked at how expensive homes had become here. Neither of us could figure out how anyone could afford to buy a home in Orange County when the prices were stratospheric! So we moved to Sacramento to stay with her sister while we looked for jobs and a house. When finding a job that would support a home in Sacramento became harder and harder we moved to San Antonio, TX. There we found a 3600+sq ft home for $327k. Then my father-in-law got sick, and we had to move back to CA in Nov of 2006. Home prices were even higher by then, and we resigned ourselves to renting for the rest of our lives. We finally found a home in Meniffee for $478k that we fell in love with. The commute prevented us from buying it. In hindsight that was the best decision we ever made! Now we’re in a position to be able to afford a home here in OC if we chose to, or buy a bigger home with some land in Oceanside.

So, the long and the short is that around April, 2005 we knew things couldn’t keep up the rate of appreciation due to the income to price ratio. Until I found this site I wasn’t sure how bad things truly were, and am now sitting and saving for another 8-15 months before buying a home.

– Doug

[NotCranky]

“sell it for more than six times what I bought it for less than than 10 years prior

Where was this house? Is “Pimp Daddy” still around? ”

bsrsharma
The house was in Normal Heights. I missed the peak and I was a motivated seller :). At least one smaller shabbier house sold for more and mine was the low price leader or pretty nearly so, on ppsf for at least a year on both sides of the sale. Didn’t want to get greedy.

I typed a very long response as to why this happened and not only to me but to some of the other properties. I lost it on account of a faulty key stroke somewhere, sorry.Basically it was a convergence of the bubble, gentrification of this specific area and some houses benefitting greatly from infrastructure, businesses and housing stock improvements(tear downs, condo conversions and rehabs).

I googled “Pimp Daddy Limousines” I find a company but I don’t think the neighborhood “Pimp Daddy” had anything to do with it. The house he rented has sold and I have no idea where he is.

[NotCranky]

“sell it for more than six times what I bought it for less than than 10 years prior

Where was this house? Is “Pimp Daddy” still around? ”

bsrsharma
The house was in Normal Heights. I missed the peak and I was a motivated seller :). At least one smaller shabbier house sold for more and mine was the low price leader or pretty nearly so, on ppsf for at least a year on both sides of the sale. Didn’t want to get greedy.

I typed a very long response as to why this happened and not only to me but to some of the other properties. I lost it on account of a faulty key stroke somewhere, sorry.Basically it was a convergence of the bubble, gentrification of this specific area and some houses benefitting greatly from infrastructure, businesses and housing stock improvements(tear downs, condo conversions and rehabs).

I googled “Pimp Daddy Limousines” I find a company but I don’t think the neighborhood “Pimp Daddy” had anything to do with it. The house he rented has sold and I have no idea where he is.

[NotCranky]

“sell it for more than six times what I bought it for less than than 10 years prior

Where was this house? Is “Pimp Daddy” still around? ”

bsrsharma
The house was in Normal Heights. I missed the peak and I was a motivated seller :). At least one smaller shabbier house sold for more and mine was the low price leader or pretty nearly so, on ppsf for at least a year on both sides of the sale. Didn’t want to get greedy.

I typed a very long response as to why this happened and not only to me but to some of the other properties. I lost it on account of a faulty key stroke somewhere, sorry.Basically it was a convergence of the bubble, gentrification of this specific area and some houses benefitting greatly from infrastructure, businesses and housing stock improvements(tear downs, condo conversions and rehabs).

I googled “Pimp Daddy Limousines” I find a company but I don’t think the neighborhood “Pimp Daddy” had anything to do with it. The house he rented has sold and I have no idea where he is.

[NotCranky]

“sell it for more than six times what I bought it for less than than 10 years prior

Where was this house? Is “Pimp Daddy” still around? ”

bsrsharma
The house was in Normal Heights. I missed the peak and I was a motivated seller :). At least one smaller shabbier house sold for more and mine was the low price leader or pretty nearly so, on ppsf for at least a year on both sides of the sale. Didn’t want to get greedy.

I typed a very long response as to why this happened and not only to me but to some of the other properties. I lost it on account of a faulty key stroke somewhere, sorry.Basically it was a convergence of the bubble, gentrification of this specific area and some houses benefitting greatly from infrastructure, businesses and housing stock improvements(tear downs, condo conversions and rehabs).

I googled “Pimp Daddy Limousines” I find a company but I don’t think the neighborhood “Pimp Daddy” had anything to do with it. The house he rented has sold and I have no idea where he is.

[Author]

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